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Judgmental adjustments to statistically generated forecasts have become a standard practice in demand forecasting, especially at a stock keeping units level. However, due to the subjective nature of judgmental interventions this approach cannot guarantee optimal use of available information and...
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Forecasts of demand are crucial to drive supply chains and enterprise resource planning systems. Usually, well-known univariate methods that work automatically such as exponential smoothing are employed to accomplish such forecasts. The traditional Supply Chain relies on a decentralised system...
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Forecast adjustment commonly occurs when organizational forecasters adjust a statistical forecast of demand to take into account factors which are excluded from the statistical calculation. This paper addresses the question of how to measure the accuracy of such adjustments. We show that many...
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Prediction of demand is a key component within supply chain management. Improved accuracy in forecasts directly affects all levels of the supply chain, reducing stock costs and increasing customer satisfaction. In many application areas, demand prediction relies on statistical software which...
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